Steven Madden (NASDAQ:SHOO) Price Target Lowered to $25.00 at Piper Sandler

Steven Madden (NASDAQ:SHOO) had its price objective cut by Piper Sandler from $35.00 to $25.00 in a report published on Friday,Benzinga reports. They currently have a neutral rating on the textile maker’s stock.

Other equities analysts have also issued research reports about the company. Telsey Advisory Group dropped their price objective on Steven Madden from $44.00 to $38.00 and set a “market perform” rating for the company in a research note on Thursday, February 27th. Needham & Company LLC restated a “hold” rating on shares of Steven Madden in a research note on Thursday, February 27th. StockNews.com cut shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Jefferies Financial Group reissued a “hold” rating on shares of Steven Madden in a report on Monday, February 3rd. Finally, Citigroup cut their target price on shares of Steven Madden from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $37.83.

Steven Madden Stock Down 1.8 %

SHOO stock opened at $20.80 on Friday. The business’s 50-day moving average price is $29.98 and its 200-day moving average price is $39.13. The stock has a market cap of $1.51 billion, a P/E ratio of 8.85 and a beta of 0.98. Steven Madden has a twelve month low of $19.05 and a twelve month high of $50.01.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. The business had revenue of $582.32 million for the quarter, compared to the consensus estimate of $550.37 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. On average, equities research analysts expect that Steven Madden will post 2.66 earnings per share for the current fiscal year.

Steven Madden Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date was Monday, March 10th. Steven Madden’s dividend payout ratio (DPR) is presently 35.74%.

Institutional Investors Weigh In On Steven Madden

A number of hedge funds have recently bought and sold shares of SHOO. Pictet Asset Management Holding SA increased its holdings in shares of Steven Madden by 17.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 10,503 shares of the textile maker’s stock worth $447,000 after buying an additional 1,594 shares during the last quarter. Geode Capital Management LLC grew its position in Steven Madden by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,710,492 shares of the textile maker’s stock worth $83,812,000 after acquiring an additional 49,075 shares in the last quarter. Principal Financial Group Inc. increased its stake in Steven Madden by 3.1% during the fourth quarter. Principal Financial Group Inc. now owns 381,196 shares of the textile maker’s stock worth $16,208,000 after acquiring an additional 11,602 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Steven Madden by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,122,680 shares of the textile maker’s stock worth $47,736,000 after acquiring an additional 25,903 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in Steven Madden by 2.4% during the fourth quarter. Fisher Asset Management LLC now owns 745,798 shares of the textile maker’s stock valued at $31,711,000 after purchasing an additional 17,124 shares during the period. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Steven Madden Company Profile

Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, and Licensing segments. The Wholesale Footwear segment designs, sources, and markets various products, including dress shoes, boots, booties, fashion sneakers, sandals, and casual shoes under the Steve Madden, Dolce Vita, Betsey Johnson, Blondo, GREATS, and Anne Klein brands.